Investment

UK - Goldman Sachs' insurance subsidiary Rothesay Life has bought a majority holding in Paternoster following a four-month sale process.

Rothesay Life has bought a majority holding in Paternoster following a four-month sale process.

UK/US/CANADA - A financial support direction issued by The Pensions Regulator against insolvent companies is an expense of the administration and must be complied with, the High Court has ruled.

The government has launched a public consultation on the discount rate used to set contribution rates in unfunded public service pension schemes.

GLOBAL - Investment managers have been forced to lower fees for non-traditional asset classes as schemes look to cut operational costs, Mercer research reveals.

Investment managers have been forced to lower fees for non-traditional asset classes as schemes look to cut operational costs, Mercer research reveals.

Trustees involved in an enhanced transfer exercise must start from the presumption it is not in the best interests of members, The Pensions Regulator confirms.

Access to new flexible drawdown pensions will be restricted to people with a lifetime pension income of a minimum of £20,000 a year, the Treasury says.

PensionDCisions has teamed up with Professional Pensions to launch its 2011 Sponsor Default Survey.

Henderson Global Investors plans to merge its £3.3bn Liquid Assets Fund into the money market fund range of DB Advisors over regulatory concerns.